<p>How colleges will view all of this can vary, but with the shortage of funds and all of the stories and requests for Personal Judgement waivers, it’s a tough row to hoe in terms of getting exceptions. Your daughter should have some schools on her list (as should all students) that are affordable and will certainly take her. The rest is really a lottery and with financial aid needed, and the issues you have in terms of assets and income, it’s difficult to say what the final resolution will be. What sort of schools does you DD have on her list? Most schools, particularly FAFSA only schools will not meet full need anyways, so it might not make much difference. </p>
<p>The other thing that you might consider, is if there is a huge difference in what your situation would be if your daughter should go to school next year, a gap year might be a good idea. If you can get your assets in order to get an auto zero EFC, that could make a difference. I would run the numbers both ways and see what the difference is. The big difference is the PELL which is a grant of $5600 for those with a zero EFC. </p>
<p>Having to live on your assets for the next ten years unless you are disabled and even then not a sure thing, will not have a lot of sway for fin aid, from what I have seen. Have you run EFC estimators?</p>